BROOMFIELD — The Broomfield Chamber of Commerce and the Broomfield Community Foundation have launched a relief and assistance fund designed to help local small businesses recover from COVID-19-related closures and restrictions.
The Broomfield Small Business Fund will distribute cash grants to assist eligible small businesses that are or may have closed temporarily, are having financial difficulty paying business rent and utilities, or are facing staff reductions or cuts in hours due to impacts from the COVID-19 pandemic.
How a business manages its inventory can have a tremendous impact on the financial health of the company. Managed properly, inventory can be a great source of increased margins, higher revenue, or a combination of the two.
“Broomfield has long been a great place to start and grow your business. Our community is a strong supporter of small business and now many of them are at risk of permanently going out of business through no fault of their own,” Sam Taylor, president and CEO of the Broomfield Chamber, said in a prepared statement. “This fund will offer a lifeline for those companies that need a little extra help as they reopen their companies after being shut down because of the pandemic.”
Marianna Williamson, executive director of the Broomfield Community Foundation, said the fund will help small businesses through the medium- and long-term recovery.
“The Broomfield Small Business Fund provides an easy solution for local residents and corporate supporters to assist fellow Broomfield businesses in a much bigger way,” she said. The Foundation will manage the fund and distribute grants.
Businesses that receive grants can use funds on direct business expenses such as payroll, inventory, supplies, lease or rent payments for non-residential business premises, and utilities for non-residential business locations. Fund grants are intended to promote business success, resulting in employee retention, supplement business revenues for payment of expenses, and sustaining business activity in the city and county of Broomfield.
Contributions are being accepted to help grow the fund at the Broomfield Community Foundation: P.O. Box 2040, Broomfield, CO 80038, with checks made out to Broomfield Community Foundation and memo Broomfield Small Business Fund. Contributions can also be made online here. Information on applying for funding will be announced soon, and questions can be directed to the Broomfield Chamber of Commerce at firstname.lastname@example.org.